Is the Crypto Market Falling Today?
April has witnessed another crypto market crash instead of entering into pre-halving price surge spirits. What's coming next?
Many crypto assets faced volatility issues recently, leading to the crypto market heatmap dominated by red. It has not happened for the first time, as with the start of the second quarter of 2024, the crypto market is going through major price fluctuations and volatility issues.
It demonstrates a market fall today where the cryptocurrencies are dipping. Many will be terrified of the market crash and might end up selling their crypto, initiating selling pressure.
Why Is The Crypto Market Falling Today?
Market volatility often leads to such price falls, crashing the crypto market. Reasons, like Market Sentiments and entering the correction zone, have been associated with this fall.
Market Sentiments
The fear and greed index data has shifted from yesterday’s score of 79 to 75, which is a shift from an almost too-greedy zone to a just greedy zone. It shows an increased selling pressure in the crypto market where the investors sell their cryptocurrencies instead of buying or HODL them.
Though the current sentiment shift has not been that huge, but compared to the March data, the market is slow.
Crypto Liquidation
99,403 crypto traders have been victims of liquidity in the last 24 hours. The total liquidation data contains $274.74 Million, and Bybit alone is responsible for the $8.38 Million in liquidations.
Bitcoin, Ethereum, and Solana are the most affected cryptocurrencies by this liquidation.
Market Correction Before Halving
Bitcoin halving is just a few days away, and the mining rewards will be half after that. It will help with maintaining the scarcity of Bitcoin as the production will decrease, but this will impact the miners.
The analysts have confirmed a Bitcoin correction before the halving events, which is happening right now. This correction might continue for a few days before entering the pre-halving price rally, followed by a long run post-halving.
